Pay Attention to the Qualifications of the Poster

[Doug Smith]

I've had 3 different borrowers send me the same article about the direction of interest rates. The article was quite "outdated" and simplistic, but because it was printed by a news organization, the customers felt that it was gospel. I decided to look up the author. She has never held a job in finance, banking, lending, or anything that would qualify her as an expert on interest rates. She holds a bachelors in English Literature. That, evidently, qualifies her to provide sound financial advice. The point of my post is this...pay attention and research the qualifications of the person/people you're listening to. What experience and qualifications does the person providing the advice have? Too often I see really bad advice from people holding themselves up as "experts". If you're taking a training course at the Holidome this weekend from a guy that says "this time last month I was working as a mechanic, but then I discovered the secret to getting rich in just 30 days in real estate...and for a $10K mentorship I'll teach you my secret." I enjoy reading and learning. I also have no issue paying a professional for value, but for the love of God, do research on the people you take advice from. 

[Chris Seveney]

Quote from @Doug Smith:

I've had 3 different borrowers send me the same article about the direction of interest rates. The article was quite "outdated" and simplistic, but because it was printed by a news organization, the customers felt that it was gospel. I decided to look up the author. She has never held a job in finance, banking, lending, or anything that would qualify her as an expert on interest rates. She holds a bachelors in English Literature. That, evidently, qualifies her to provide sound financial advice. The point of my post is this...pay attention and research the qualifications of the person/people you're listening to. What experience and qualifications does the person providing the advice have? Too often I see really bad advice from people holding themselves up as "experts". If you're taking a training course at the Holidome this weekend from a guy that says "this time last month I was working as a mechanic, but then I discovered the secret to getting rich in just 30 days in real estate...and for a $10K mentorship I'll teach you my secret." I enjoy reading and learning. I also have no issue paying a professional for value, but for the love of God, do research on the people you take advice from. 

 Agree 100%, also you have to understand the poster and their spin. If it is super positive about real estate - is it an agent? I see people posting on here on BP about some tech platform or software or service, then when i see the poster its the owner of that service or someone in their sales department. Clearly not being upfront about their affiliation. Affiliation is a big thing to also look into and consider.